Stop loss help

[andak fedal]

Hiya,

I just placed a lay bet at 1.67 and a tick offset of 12 so wanted a back of 1.79 which didn't happen and I had a stop loss at 1.33 i.e. I wanted to take a level loss when the fav who I layed reached this price.

It didn't trigger tho so I must have got confused with this setting. Could someone tell me where I am going wrong please?

Thanks

[GaryRussell]

So the lay was matched at 1.67, the tick offset bet was placed and not matched then the price fell to 1.33 or below?

1) Did you tick "Enabled" in the stop loss tab?
2) Did you set up the tick offset and stop loss settings before you placed the lay bet?

[andak fedal]

No, I did it after I placed the lay bet and I also did the lay in betfair! I'm guessing this is where I'm going wrong??

[andak fedal]

ok, so now I have started a new bet with stop loss deployed before I place my back bet and the red button appears which looks promising!

I have just realised though that I had sliding ticked and so have unticked this now - will it register the change or is it too late?

It's too late. You need to cancel the bet and place it again without sliding ticked if you do not want it sliding.

[andak fedal]

Thanks I thought that was happend because I set my back at 1.45 with a 15% stop loss. Am I right in thinking the stop loss should trigger at about 1.87??

It actually triggered at 1.56 and I thought may because of sliding but the bet matched time was before the match started and the price didn't go any lower than 1.45 before the start.

I'm a bit confused!

[GaryRussell]

1.45 plus 15% is not 1.87, it is 1.52 = (0.45 x 1.15) + 1

[andak fedal]

Ah ok sorry, I thought it was a percentage change in the price i.e. 1.45 equates to 69% and 1.87 is 54% (15% difference).
How come it triggered at 1.56 anyway and not 1.52 not that I mind if it couldn't get 1.52 just didn't think it did this??

One last check then, if I had a back price of 1.69 and a stop loss of 3.00 if I was using a tick percentage this would equate to something like 190% then using the ticks percentage??

Cheers for your support btw it is very much appreciated

[GaryRussell]

It triggers at the current price if it goes over 1.52, so it must have jumped past 1.52. It will not place the lay stop loss at more than double the odds though because if it suddenly jumped to high odds you could be looking at a large liability.

One last check then, if I had a back price of 1.69 and a stop loss of 3.00 if I was using a tick percentage this would equate to something like 190% then using the ticks percentage??

I'm afraid the stop loss will not fire at more than double your current odds (100%) for the reason I gave above. double 1.69 is (0.69 x 2) + 1 = 2.38
This rule only applies when the stop loss bet is a lay bet.
Your calculation of 190% is correct though.

[GaryRussell]

I must apologise. My last post is correct unless you have ticked level loss in which case it will allow you to enter more than 100% because a level loss can never produce a loss greater than you initial liability.

[andak fedal]

It triggers at the current price if it goes over 1.52, so it must have jumped past 1.52. It will not place the lay stop loss at more than double the odds though because if it suddenly jumped to high odds you could be looking at a large liability.

That's brilliant I didn't think it did this - very pleased that it does!

I must apologise. My last post is correct unless you have ticked level loss in which case it will allow you to enter more than 100% because a level loss can never produce a loss greater than you initial liability.

Excellent, makes sense - I'm getting there now!

Thanks again.